There is a significant difference between British and U.S. law firms when it comes to cost cutting. London City firms seem to be generally canceling holiday parties or dramatically scaling them back according to various law firm associates’ blogs. We have not heard of wholesale cutbacks on festivities among U.S. firms but we are getting wind of some interesting areas of frugality, including:

§ Several New York firms have placed a near bane on any reimbursable expenditure that can’t be charged back to a client.

§ A suggestion by the managing partner at a firm-wide associate meeting that when attending a deposition or meeting at another law firm, everyone should use a legal pad and pen supplied by that firm and take it with them when they leave. 

§ The elimination of bottled water in conference rooms.

§ A Washington firm that has placed a limitation on expenditures for lunch at internal meetings to $5 per participant.